Investors are usually prevented from selling until 180 days after IPO

They have a dozen tricks to get around that... e.g.

"The passive funds holding trillions of dollars of 401(k)s and other investments are rushing to change their rules as the IPOs of SpaceX, OpenAI and Anthropic draw closer."

Those index providers are the same interest class with VCs. With such moves they inflate demand post-IPO (hoping it holds for 180+ days), but also allows them to lure buyers in private secondary market and offload that shit pre-IPO.

https://www.wsj.com/finance/stocks/stock-indexes-are-contort...

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throwaway85825 14 hours ago | parent | prev | next [-]

The rules can be changed, they did for spacex.

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stingraycharles 13 hours ago | parent [-]

Yeah but SpaceX has undergone some “changes” in the past few months that make it a dumpster fire, rather than Anthropic’s explosive growth. Also, I don’t think the CEOs of both companies operate in the same way.

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throwaway85825 10 hours ago | parent [-]

I dont see why changes at spacex would necessitate any changes at nasdaq.

	▲	0Ggr3g 8 hours ago \| parent [-]
		From what I heard, nasdaq changed the rules so that Spacex can be added sooner to the index. Then pension will essentially buy SpaceX (via index), bringing the necessary liquidity for SpaceX exec to exit (very fast thanks to SpaceX rule change)

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rchaud 10 hours ago | parent | prev [-]

If the investors are VCs, they can sell their holdings to a syndicate of underwriter banks in advance of the IPO, and let the banks shoulder the risk of finding a bigger fool in the secondary markets.